Short Interest in IO Biotech, Inc. (NASDAQ:IOBT) Rises By 213.1%

Key Points

• Short interest in IO Biotech increased by 213.1%, rising from 122,700 shares to 384,200 shares by July 15th.
• The company's stock is trading at $2.22 with a market cap of approximately $146.26 million. Its 52-week low and high are $0.66 and $2.48, respectively.
• Institutional investors hold 54.76% of IO Biotech's stock, with significant acquisitions made by firms such as Citadel Advisors LLC and Landscape Capital Management L.L.C.

IO Biotech, Inc. (NASDAQ:IOBT - Get Free Report) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 384,200 shares, agrowthof213.1% from the June 30th total of 122,700 shares. Based on an average daily volume of 231,300 shares, the short-interest ratio is currently 1.7 days. Approximately0.8% of the shares of the company are short sold. Approximately0.8% of the shares of the company are short sold. Based on an average daily volume of 231,300 shares, the short-interest ratio is currently 1.7 days.

IO Biotech Trading Down 2.6%

NASDAQ IOBT traded down $0.05 on Friday, reaching $1.84. The company's stock had a trading volume of 271,765 shares, compared to its average volume of 219,983. IO Biotech has a 52 week low of $0.66 and a 52 week high of $2.48. The firm has a market cap of $121.22 million, a PE ratio of -1.23 and a beta of 0.44. The business has a 50-day moving average price of $1.66 and a 200 day moving average price of $1.21.

Institutional Investors Weigh In On IO Biotech

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in IO Biotech by 22.5% during the fourth quarter. Renaissance Technologies LLC now owns 118,800 shares of the company's stock worth $109,000 after buying an additional 21,800 shares during the last quarter. XTX Topco Ltd increased its stake in shares of IO Biotech by 80.0% in the first quarter. XTX Topco Ltd now owns 50,486 shares of the company's stock valued at $55,000 after buying an additional 22,446 shares in the last quarter. Jane Street Group LLC bought a new position in shares of IO Biotech in the first quarter valued at about $26,000. Citadel Advisors LLC acquired a new position in IO Biotech during the 4th quarter worth about $249,000. Finally, Landscape Capital Management L.L.C. bought a new stake in IO Biotech during the 4th quarter worth about $407,000. 54.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IOBT. HC Wainwright reiterated a "buy" rating on shares of IO Biotech in a research note on Wednesday, May 14th. Wall Street Zen raised IO Biotech to a "sell" rating in a report on Saturday, June 14th.

About IO Biotech

IO Biotech, Inc, a clinical-stage biopharmaceutical company, develops immune-modulating therapeutic cancer vaccines based on the T-win technology platform. The company's lead product candidate, IO102-IO103, which is designed to target immunosuppressive mechanisms mediated by Indoleamine 2,3-dehydrogenase (IDO), and programmed death-ligand (PD-L1) that is in phase 3 clinical trial to treat melanoma, as well as in phase 2 clinical trial to treat lung, head and neck, bladder, and melanoma cancer.